Thames Water, a company serving 16 million customers with water and sewage services, is facing a significant challenge with its overwhelming £20 billion debt. An urgent search for new investors is underway to inject emergency capital into the company following a Court of Appeal approval for a £3 billion debt bailout from current creditors.

However, the potential buyers are hesitant due to Thames Water's inability to provide accurate details about its extensive network of pipes, sewage facilities, and reservoirs. The lack of precise asset records is slowing down the process, raising concerns about the company's future financial stability.

Thames Water aims to identify a preferred buyer from six interested parties by June and complete the ownership transfer by September. The company's assets, valued at over £20 billion, include 20,000 miles of water pipes, 68,000 miles of sewers, and 5,235 pumping stations. Yet, a significant portion of its network remains unmapped, with uncertainties about the scale and condition of its infrastructure hindering efforts to secure additional funding and avoid nationalization threats.